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Financial instruments - Risk management and fair value (Tables) | 12 Months Ended
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Dec. 31, 2017
Text block1 [abstract] |
Summary of Foreign Currency Risk Exposure | The following chart summarizes the Company’s foreign currency risk exposure (assets and liabilities denominated in foreign currency) as of December 31:
|  | 2017 |  |  | 2016 |
Assets |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 25,189 |  |  | $ | 51,718 |
Investments |  |  | 277 |  |  |  | 276 |
Accounts receivable, net |  |  | 75,769 |  |  |  | 69,460 |
Prepaid expenses |  |  | 32,045 |  |  |  | 34,635 |
Other assets |  |  | 29,459 |  |  |  | 35,343 |
Total assets |  | $ | 162,739 |  |  | $ | 191,432 |
Liabilities |  |  |  |  |  |  |  |
Accounts payable |  |  | 37,186 |  |  |  | 32,098 |
Taxes payable |  |  | 39,559 |  |  |  | 55,060 |
Other liabilities |  |  | 25,471 |  |  |  | 40,342 |
Total liabilities |  | $ | 102,216 |  |  | $ | 127,500 |
Net position |  | $ | 60,523 |  |  | $ | 63,932 |
Summary of Financial Liabilities According to Maturity Date | The table below summarizes the Company’s financial liabilities according to their maturity date. The amounts in the table are the contractual undiscounted cash flows. Balances due within twelve months equal their carrying balances as the impact of discounting is not significant. December 31, 2017
|  | Note |  | Carrying amount |  |  | Contractual cash flow |  |  | Less than twelve months |  |  | Between 1 and 4 years |  |  | More than 4 years |
Non-derivative financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt |  | 18 |  | $ | 1,174,581 |  |  | $ | 1,313,191 |  |  | $ | 329,284 |  |  | $ | 549,726 |  |  | $ | 434,181 |
Account payable |  | 19 |  |  | 116,554 |  |  |  | 116,554 |  |  |  | 116,554 |  |  |  | — |  |  |  | — |
Account payable to related parties |  | 19 |  |  | 12,880 |  |  |  | 12,880 |  |  |  | 12,880 |  |  |  | — |  |  |  | — |
|  |  |  | $ | 1,304,015 |  |  | $ | 1,442,625 |  |  | $ | 458,718 |  |  | $ | 549,726 |  |  | $ | 434,181 |
December 31, 2016
|  | Note |  | Carrying amount |  |  | Contractual cash flow |  |  | Less than twelve months |  |  | Between 1 and 4 years |  |  | More than 4 years |
Non-derivative financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt |  | 18 |  | $ | 1,184,132 |  |  | $ | 1,334,816 |  |  | $ | 252,680 |  |  | $ | 616,031 |  |  | $ | 466,105 |
Account payable |  | 19 |  |  | 104,174 |  |  |  | 104,174 |  |  |  | 104,174 |  |  |  | — |  |  |  | — |
Account payable to related parties |  | 19 |  |  | 8,681 |  |  |  | 8,681 |  |  |  | 8,681 |  |  |  | — |  |  |  | — |
|  |  |  |  | 1,296,987 |  |  |  | 1,447,671 |  |  |  | 365,535 |  |  |  | 616,031 |  |  |  | 466,105 |
Derivative financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fuel derivative instrument |  | 19 |  |  | 2,801 |  |  |  | 2,801 |  |  |  | 2,801 |  |  |  | — |  |  |  | — |
|  |  |  | $ | 2,801 |  |  | $ | 2,801 |  |  | $ | 2,801 |  |  | $ | — |  |  | $ | — |
Summary of Gearing Ratio | The Company’s gearing ratio (unaudited) is a follows:
|  | 2017 |  |  | 2016 |
Total debt (note 18) |  | $ | 1,174,581 |  |  | $ | 1,184,132 |
Less: non-restricted cash and cash equivalents and short-term investments |  |  | (943,900 | ) |  |  | (814,689 | )
Net debt |  |  | 230,681 |  |  |  | 369,443 |
Total equity |  |  | 1,905,612 |  |  |  | 1,636,753 |
Total capitalization |  |  | 2,136,293 |  |  |  | 2,006,196 |
Gearing ratio |  |  | 10.8 | % |  |  | 18.4 | %
Summary of Carrying Amount and Fair Values of Financial Assets and Financial Liabilities | The following table shows the carrying amount and fair values of financial assets and financial liabilities as of December 31:
|  |  |  | Carrying amount |  |  | Fair Value |
|  | Note |  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Financial assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | 8 |  | $ | 238,792 |  |  | $ | 331,687 |  |  | $ | 238,792 |  |  | $ | 331,687 |
Short-term investments |  | 9 |  |  | 705,108 |  |  |  | 483,002 |  |  |  | 705,108 |  |  |  | 483,002 |
Account receivable |  | 10 |  |  | 118,085 |  |  |  | 116,100 |  |  |  | 118,085 |  |  |  | 116,100 |
Long-term investments |  | 9 |  |  | 65,953 |  |  |  | 953 |  |  |  | 65,953 |  |  |  | 953 |
Financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt |  | 18 |  |  | 1,174,581 |  |  |  | 1,184,132 |  |  |  | 1,053,070 |  |  |  | 1,062,952 |
Account payable |  | 19 |  |  | 129,434 |  |  |  | 112,857 |  |  |  | 129,434 |  |  |  | 112,857 |
Fuel derivative instruments |  | 19 |  |  | — |  |  |  | 2,801 |  |  |  | — |  |  |  | 2,801 |
Summary of Financial Instruments Measured at Fair Value | The following chart summarizes the Company’s financial instruments measured at fair value, classified according to the valuation method:
|  | Fair value measurement as of reporting date |
|  | 2016 |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fuel derivatives |  |  | 2,801 |  |  |  | — |  |  |  | 2,801 |  |  |  | — |
Total liabilities |  | $ | 2,801 |  |  | $ | — |  |  | $ | 2,801 |  |  | $ | — |

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